Every time bonds yield increase, mortgage rates go up. Every time bond yields go down, mortgage rates go down, but at a slower pace if compared to pace when rates going up.

An example: In October 2018 a 5-year bond was 2.42%, and the best 5-year fixed mortgage rate was 3.89%. In March 2019 a 5-year bond is 1.55%, and the best 5-year fixed rate is 3.49%. While bond yield dropped 0.85%, mortgage rates dropped only 0.40%. These are the regular best rates, excluding various promotions. This means that fixed-rate mortgages have room to go further down, which is reflected by various unique promotions with rates at 3.20% rangeIf you choose a fixed rate mortgage today, three to six months down the line, you might find that rates are lower. It can be very frustrating and surely not efficient.

Please feel free to call or email us to discuss a few strategies to avoid this situation and still benefit from declining mortgage rates environment.

Following chart shows 5-year bond yields and 5-year mortgage ongoing best rates, excluding various unique promotions. Time period is January 2015 to October 2016; a long period of time when 5-year bond rates were below 1%

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Reviews

We are very happy with Jacob’s services! He is patient to make sure we understand mortgage components and also accommodating if we have any questions or requests. Not only he found us a great mortgage rate but also recommended a financial advisor who helped us in many ways as well.read more

Where the banks can't help, Jacob and Rinat came in and with great valuable advice and excellent service they managed to get us what we needed. I highly recommend using their services when looking for a mortgage.

Jacob is amazing, thank you so much for all your work. The only one who were able to meet our mortgage needs. We are so very happy and grateful for all you have done for our family and will recommend you to all our friends.
Great service, professional, resourceful and very knowledgeable.
Elena Podgornyread more

I had the pleasure of working with Jacob and his team for the refinance of my my condo in Richmond. He definitely exceeded my expectations with his professionalism and better than expected results with the offer I received. He takes the time to update you regularly and is available anytime you need to get in touch with him. I highly recommend his services and would definitely contact him in the future for any of my financing. 5 Stars Plus!!read more

Excellent service! We feel confident to send our clients to the Mortgage Sneg Mortgage Team, because we know that purchase will go smoothly and stress free. The Sneg Team not only provides our clients with the best possible mortgage solution, but also gives them extremely thoughtful investment advise that will lead them to prosperity and wealth in the future.
Full Service Investment Real Estate Teamread more

Jacob and Rinat were very helpful in guiding us through the process of getting our first mortgage. We had a very tight timeline to find a provider so unfortunately we were not able to have any discussion on different options and rates available to us. However any questions and concerns that we had were responded to very quickly. We are confident that they will continue to look after us throughout our mortgage term.read more